The Isle of Man sits in the Irish Sea in close proximity to the United Kingdom. There are many benefits of this but, because of the fact that the Isle of Man has the oldest continuous parliament in the world, it is independent from the UK and able to make its own laws and tax legislation. Coupled with a vibrant professional services market and an unrivalled quality of life with excellent health and education systems and one of the lowest crime and unemployment rates in Europe, the Isle of Man is an attractive place to reside for both companies and individuals. It has scored the highest ever rating polled by MORI as a place to live with 93% of residents either happy or very happy with the Isle of Man as a place to live.
If you or your company are considering moving to the Isle of Man there are a number of issues which you will need to consider before doing so.
We offer relevant and valuable advice to you on a bespoke basis by understanding your requirements right from the start.
We are able to draw on our local expertise as well as our global network to ensure that the Isle of Man is the right place for you and if you decide to consider relocating, we can give you co-ordinated specialist advice to cover the following critical areas:
Helping you to determine which country you are resident in for tax purposes and what you need to do to change/manage your residence status.
Tax Position pre and post relocation – We will ensure that you know what the tax implications of moving are in your current location, as well as helping you to understand what your liabilities will be after relocation.
Advising you of the most tax efficient structure for you or your business using companies, groups or trusts where appropriate.
Provide business support services to you or your business (including accounts preparation, audit and business advisory)
We will continue to monitor any changes which may affect you and notify you accordingly.
Advising on other tax (or related) matters specific to you.